This is a small triangle in soybean oil. Triangles form most often in trending markets. You simply look for a triangle in the developing stage and place your orders.
The goal is to place orders or buy options at a price just outside the triangle to catch the price direction either way because we really don't know which way prices will go, and we don't need to know!
The profit potential is determined by measuring the triangle and projecting that amount in the direction that prices take. When one order is filled, the other order becomes your stop loss order in case prices reverse.
You place your orders with your broker or through online trading, and you are off doing what you normally do during the day. Your orders have you protected so there is no more interaction on your part!
Your stop loss order was never threatened in this trade and the profit objective was hit in two weeks!
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